Thailand Industry July 2019

Thailand

Thailand: Drop in manufacturing output softens in July

August 26, 2019

Manufacturing output fell 3.2% year-on-year in July, up from June’s revised 5.3% contraction (previously reported: -5.5% year-on-year). June’s drop had marked the strongest fall in production in over five years.

Manufacturing production in month-on-month terms expanded 1.1% in July, contrasting June’s 1.5% drop (previously reported: -2.2% month-on-month). The annual average variation in manufacturing output swung from a 0.4% expansion in June to a 0.3% drop in July, the lowest reading in over three years.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.7% in 2019, which is up 0.2 percentage points from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.4%.


Author: Ricard Torné, Lead Economist

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Thailand Industry July 2019

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.


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